Property sales across the Gisborne region at 42 in the month rose on a seasonally adjusted basis in June, but was up a very significant 40% as compared to a year ago. The inventory of unsold houses though rose to 51 weeks which is just slightly above the long-term average of equivalent sales.

Median sales price of property sold during the month in Gisborne at $189,500 was down 34% as compared to a year ago and down from the prior month. Prices have taken a significant downward path over the first half of 2012. The asking price expectation of new listings in the Gisborne region was also down 3% as compared to a year ago at $296,275, this did though represent a rise from the May figure of $235,921.

The level of new listings coming onto the market in June at 69 was down as compared to May and down 3% as compared to a year ago.